EMPIRE PETROLEUM CORP — Director's Dealing 2021

Jun 23, 2021

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: EMPIRE PETROLEUM CORP (EMPR)
CIK: 0000887396
Period of Report: 2021-05-14

Reporting Person: Energy Evolution Master Fund, Ltd. (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	9950000	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Senior Secured Convertible Note Due December 31, 2021	$1.25	2021-12-31	Common Stock (5200000)		Direct

Footnotes

F1: Initially, 40% of the principal amount outstanding together with accrued interest thereon may be converted at a conversion price of $1.25 per share, or an aggregate of 5,200,000 shares of Common Stock (without giving effect to any interest that may be converted). Under certain conditions, the maximum number of shares into which the note may be converted increases to 8,125,000 shares of Common Stock (without giving effect to any interest that may be converted).

F2: Initially, the conversion price of under the note is $1.25. The conversion price is subject to customary downward adjustments, including in the event the Company conducts capital raises at a valuation less than $1.25 per share of Common Stock. The conversion price can also be reduced by $0.25 under certain enumerated conditions.